BRIEF
The truck driver shortage comes with no lack of economic consequences.
Factors contributing to the transport driver shortage include misclassification lawsuits, dissatisfaction with the ELD mandate, and inaccurate or misleading driver record reporting companies such as HireRight, LLC, which collects and dispenses driver safety histories.
Now practices from leaner days are taking a toll. Though wages have increased for many, there remain those deep in debt to employers for the trucks they drive well beyond accepted working hours.
In addition, stringent hiring practices that discourage qualified drivers have yet to be resolved in a practical manner, despite a let-up in CDL crossover allowances.
As a result, the cost of shipping via truck is likely to increase due to rising rates. Shippers could suffer losses if they don’t evaluate where to cut costs in their supply chains and find a way to work around high rates and prices.